Wall Street Zen Upgrades Nordic American Tankers (NYSE:NAT) to Hold

Nordic American Tankers (NYSE:NAT) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

A number of other equities research analysts have also commented on the company. Evercore ISI upped their target price on Nordic American Tankers from $2.50 to $3.00 and gave the company an “in-line” rating in a research report on Tuesday, October 28th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $3.50 price objective on shares of Nordic American Tankers in a report on Friday, November 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Nordic American Tankers in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, Nordic American Tankers has an average rating of “Hold” and an average price target of $3.25.

Nordic American Tankers Price Performance

Shares of NAT opened at $3.74 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.95 and a quick ratio of 1.64. The company’s fifty day moving average price is $3.55 and its 200-day moving average price is $3.12. Nordic American Tankers has a 1-year low of $2.13 and a 1-year high of $3.93. The firm has a market capitalization of $791.95 million, a PE ratio of 187.09 and a beta of -0.45.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings results on Friday, November 28th. The shipping company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). The firm had revenue of $40.18 million for the quarter, compared to analyst estimates of $52.89 million. Nordic American Tankers had a return on equity of 0.39% and a net margin of 1.12%. On average, equities research analysts predict that Nordic American Tankers will post 0.24 EPS for the current year.

Institutional Trading of Nordic American Tankers

Institutional investors and hedge funds have recently made changes to their positions in the business. Savant Capital LLC acquired a new position in Nordic American Tankers during the second quarter worth $28,000. Vanguard Personalized Indexing Management LLC purchased a new position in Nordic American Tankers in the 3rd quarter valued at $32,000. BlueStem Wealth Partners LLC acquired a new stake in Nordic American Tankers during the 3rd quarter worth $32,000. HBK Sorce Advisory LLC acquired a new stake in shares of Nordic American Tankers in the third quarter valued at about $33,000. Finally, Caprock Group LLC acquired a new position in Nordic American Tankers during the third quarter worth about $36,000. 44.29% of the stock is currently owned by hedge funds and other institutional investors.

Nordic American Tankers Company Profile

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.